North America Energy Harvesting Market - By Source, By Component (Energy Harvesting Transducer, Power Management Integrated Circuits (PMIC)), By End Use, Growth Forecast 2024 – 2032

North America Energy Harvesting Market - By Source, By Component (Energy Harvesting Transducer, Power Management Integrated Circuits (PMIC)), By End Use, Growth Forecast 2024 – 2032

North America energy harvesting market size will register an 8.2% CAGR between 2024 and 2032 driven by increasing demand for sustainable and efficient energy solutions across various industries. As organizations and consumers become more aware of the environmental impacts of traditional energy sources, there is growing interest in technologies that capture and utilize ambient energy from sources, such as solar, wind, vibration, and thermal gradients. For instance, in January 2024, Enphase Energy, Inc. began shipping its new IQ8™ Microinverters, IQ8HC™, designed to pair with solar modules up to 540W DC.

Policies and programs supporting clean energy technologies and reducing carbon footprints will also create a favorable environment for the adoption of energy harvesting systems. Advancements in materials science and engineering, which improve the efficiency and performance of energy harvesting devices, are further driving the market growth.

The overall industry is segmented into source, component, end-use, and country.

Based on the source, the North America energy harvesting market from the thermal energy segment is slated to record a strong growth rate through 2032. This is due to their ability to convert waste heat from industrial processes, machinery, and environmental sources into usable electrical energy. As industries and buildings seek to improve energy efficiency and reduce operational costs, the capturing and utilization of otherwise wasted thermal energy has become increasingly valuable.

In terms of end-use, the North America energy harvesting industry from the consumer electronics segment is projected to observe a substantial CAGR during 2024-2032 owing to the increasing demand for self-sustaining and energy-efficient devices. As consumer electronics, such as wearables, smart gadgets, and portable electronics become more prevalent, there is a growing need for reliable power solutions that can extend battery life and reduce the need for frequent recharging.

Canada energy harvesting industry will witness a robust growth rate between 2024 and 2032. As cities and municipalities in the country invest in smart grid technologies, intelligent transportation systems, and eco-friendly public spaces, there is an increasing need for efficient and low-maintenance energy solutions to power these systems. Energy harvesting technologies, such as solar panels and kinetic energy converters, are also providing a means to harness and utilize renewable energy sources for powering sensors, streetlights, and communication devices within smart city frameworks.